Talking Tax - Episode 77 - Do Proposed Regulations for §199A Provide Clarity for Business Owners?

Jim Kehl of Weil, Akman, Baylin & Coleman, in Timonium MD, joins Talking Tax host Andrea L. Ben-Yosef to talk about the complicated subject of §199A, a tax code provision added by the 2017 tax act, and the proposed regulations, released on August 8, implementing §199A’s 20% deduction for businesses taxpayers own directly and indirectly through interests in pass-through entities.” The proposed regulations provide more insight into the definition of a trade or business, which is crucial in determining whether the business owner can take the deduction. For more information, please see the article by Jim Kehl, §199A Gets an Update Three Months After Its Enactment (Bloomberg TM Memorandum (April 16, 2018). See also the special report Section 199A: Understanding the 20% Pass-Through Deduction, at https://www.bna.com/section-199a-understanding-m57982090077/.